Ally Financial: Difference between revisions
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'''[[wikipedia:Ally_Financial|Ally Financial Inc.]]''' is a US-based company offering banking, securities, and other financial services through its subsidiaries such as Ally Bank, Ally Invest Advisers Inc. and [[Ally Invest Securities]] LLC. | '''[[wikipedia:Ally_Financial|Ally Financial Inc.]]''' is a US-based company offering banking, securities, and other financial services through its subsidiaries such as Ally Bank, Ally Invest Advisers Inc. and [[Ally Invest Securities]] LLC. | ||
== Incidents == | |||
=== 2013 discrimination settlement === | |||
Due to Ally's discriminatory pricing system, more than 235,000 minority borrowers paid higher interest rates for their auto loans between April 2011 and December 2013. The [[wikipedia:Consumer_Financial_Protection_Bureau|Consumer Financial Protection Bureau]] (CFPB) and [[wikipedia:United_States_Department_of_Justice|Department of Justice]] (DOJ) ordered the company to pay $18 million in penalties and $80 million in damages to affected borrowers.<ref>https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-doj-order-ally-to-pay-80-million-to-consumers-harmed-by-discriminatory-auto-loan-pricing/</ref><ref>https://www.consumerfinance.gov/about-us/blog/harmed-ally-borrowers-have-been-sent-80-million-in-damages/</ref> | |||
=== Data breach === | |||
==References== | ==References== | ||
<references /> | |||
https://www.ally.com/invest/ | https://www.ally.com/invest/ | ||
[[Category:Online banks]] | [[Category:Online banks]] | ||
Revision as of 20:25, 15 February 2025
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| Basic information | |
|---|---|
| Founded | 1919 |
| Legal structure | Public |
| Industry | Financial services |
| Official website | http://ally.com |
Ally Financial Inc. is a US-based company offering banking, securities, and other financial services through its subsidiaries such as Ally Bank, Ally Invest Advisers Inc. and Ally Invest Securities LLC.
Incidents
2013 discrimination settlement
Due to Ally's discriminatory pricing system, more than 235,000 minority borrowers paid higher interest rates for their auto loans between April 2011 and December 2013. The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) ordered the company to pay $18 million in penalties and $80 million in damages to affected borrowers.[1][2]